Financial Planner and Blueleaf

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Mettaman
Posts: 16
Joined: Sat Jun 27, 2015 12:31 pm

Financial Planner and Blueleaf

Post by Mettaman » Wed May 16, 2018 12:54 am

I am 69, retired and collaborate with a financial planner on my 2 investment portfolios. Trades and reporting are via Schwab. The planner sent instructions for me to enroll in Blueleaf, an account aggregator not unlike Mint. Blueleaf is primarily designed for advisers to scale their business. I pay my adviser 1% annually...it adds up! I’m a bit suspicious about the value of Blueleaf to me. Schwab’s dashboard is perfectly fine for my needs.

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unclescrooge
Posts: 2464
Joined: Thu Jun 07, 2012 7:00 pm

Re: Financial Planner and Blueleaf

Post by unclescrooge » Wed May 16, 2018 1:00 am

Blueleaf provides performance reporting and billing. Marketing is secondary.

If you don't want those reports them you don't need to sign up.

It can show the advisor your other assets, if you choose to link them. There is no requirement for you to do that. Just link the Schwab accounts and call it a day.

livesoft
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Joined: Thu Mar 01, 2007 8:00 pm

Re: Financial Planner and Blueleaf

Post by livesoft » Wed May 16, 2018 9:45 am

I suppose you could ask for a reduction in the fee to 0.5% if you sign up at Blueleaf.
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unclescrooge
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Re: Financial Planner and Blueleaf

Post by unclescrooge » Wed May 16, 2018 10:03 am

livesoft wrote:
Wed May 16, 2018 9:45 am
I suppose you could ask for a reduction in the fee to 0.5% if you sign up at Blueleaf.
Blueleaf doesn't charge the investor, only the advisor.

Why would the advisor discount his rate on top of paying thousands of dollars a year to blueleaf? Well there are a lot of reasons, but signing up to blueleaf shouldn't be one of them.

livesoft
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Re: Financial Planner and Blueleaf

Post by livesoft » Wed May 16, 2018 10:23 am

blueleaf could actually reduce the financial advisor's backoffice costs which the advisor could pass on to clients.
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PFInterest
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Re: Financial Planner and Blueleaf

Post by PFInterest » Wed May 16, 2018 1:56 pm

Mettaman wrote:
Wed May 16, 2018 12:54 am
I am 69, retired and collaborate with a financial planner on my 2 investment portfolios. Trades and reporting are via Schwab. The planner sent instructions for me to enroll in Blueleaf, an account aggregator not unlike Mint. Blueleaf is primarily designed for advisers to scale their business. I pay my adviser 1% annually...it adds up! I’m a bit suspicious about the value of Blueleaf to me. Schwab’s dashboard is perfectly fine for my needs.
Good luck at 1%. You are being taken.

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